PT SUMMARECON AGUNG Tbk

A Company Presentation March 2019

Rainbow Springs Condovilla

Samasta Lifestyle Village

Contents

Slide No. HO : Plaza Summarecon

1. Plans for 2019 3 2. Payment Profile & Price Segmentation 4 3. Corporate Information 5 4. Management 6‐8 5. Principal Activities 9 6. Land Bank 10 7. Project Locations 11

8. Summarecon Kelapa Gading 12

9. Summarecon Serpong 13‐15

10. Summarecon Bekasi 16‐17

11. Summarecon Bandung 18 Slide No. 12. Summarecon Emerald Karawang 19 20. Capital Investments 43 13. Summarecon Mutiara Makassar 20 21. Net Asset Value 44 14. Projected GDV of Projects 21‐23 21. Summarecon’s Competitiveness 45‐46 15. Investment Properties 24‐32 22. Outlook 47 23. Moving Forward 48 16. Corporate Structure 33 24. Consistent Value to Shareholders 49 17. Income Statement : Consolidated Results 34‐40 25. Contact us 50 18. Key Financial Indicators 41 26. Disclaimer 51 19. Debt Borrowings 42 27. Appendix : Product Specifications 52‐56 2 Plans for 2019 : Property Development

FY2019 Marketing Sales target = Rp 4Tr

Marketing Sales by Location (IDR’ Tr) Marketing Sales by Product Segment (IDR’ Tr)

Σ Rp 4.0 Tr Σ Rp 4.0 Tr  18% Σ Rp 3.6 Tr  18% Σ Rp 3.4 Tr Σ Rp 3.6 Tr  18% Makassar Σ Rp 3.4 Tr Σ Rp 3.0 Tr  5%  18% Karawang Σ Rp 3.0 Tr  5%  31% Bandung  31% House As of Feb 28th 2019: Serpong IDR 0.7 Tr (17%) Shoplot Σ Rp 0.7 Tr Bekasi Apartment Kelapa Gading Office Landplot

Price Segmentation & Payment Profile

Σ Rp 3.6 Tr Σ Rp 3.4 Tr Σ Rp 3.0 Tr

Σ Rp 0.7 Tr

4 Corporate Information

Incorporation Date : 26 Nov 1975 IPO Date : 7 May 1990 Ticker : SMRA.IJ Share Capital @ 28 Feb 2019 : Total Shares in Issue = 14,426,781,680 @ Rp 100/share

:Total Paid‐up = Rp 1.44 tr (~USD 102.59 mn)

Total Value Rupiah per share Market Capitalization @ 28 Feb 2019 : Rp 13.6 tr (~USD 964mn) Rp 940

Net Book Value :Rp2.6tr(~USD 187.75mn) Rp 183

NAV (Market/Replacement Cost) : Rp 59.5 tr (~USD 4.23bn) Rp 4,099

Shareholder Profile @ 28 Feb 2019 : Founders & Associates ~ 46% : Public –Local ~ 18% : Public –Foreign ~ 36% :No. of Shareholders 8,784 Employees : ~ 4,300 5

Dewan Komisaris (4 Anggota)

1 2 3

1. IR. SOETJIPTO NAGARIA (78) Founder of the Company

2. HARTO DJOJO NAGARIA (71) Commissioner

3. ESTHER MELYANI HOMAN (59) Independent Commissioner

4. EDI DARNADI (67) Independent Commissioner

6 Board of Directors [8 members] [Pg 1]

LILIAWATI RAHARDJO (69) ADRIANTO PITOYO ADHI (60) Managing Director President Director Appointed Director in June Appointed President Director in 2002. Was a Commissioner from June 2015. Was a Director from 1992 to 1997, and then the 2013 to 2015. Joined in the President Commissioner from Company as Executive Director 1997 to 2001. (operations director) in 2005. Joined PT Metropolitan Land in 1997 as General Manager, then promoted to Director from 2002.

SOEGIANTO NAGARIA (46) HERMAN NAGARIA (42) Director –Investment Director –Business & Property Property Development Appointed Director in June Appointed Director in June 2006. Since joining the 2006. Previously served as Company in 1997, he has Assistant Director in Business served in various Development from 2003, and managerial positions in has worked in various business development, club managerial positions since management and retail joining the Company in 1999. leasing

Board of Directors [8 members] [Pg 2]

JASON LIM (52) NANIK WIDJAJA (53) Director – Technical & Project Director ‐ Corporate Services Appointed Director in June Appointed Director in June 2018. 2018. Previously served as Previously served as Assistant Associate Director Technical & Projects from 2013. Joined the Director (Accounting). Joined in the Company in 2004 as Project Company in 1996 as Finance Manager. He has worked as a Supervisor. Project & Engineering Manager She has worked in finance, in numerous companies since accounting and tax function in 1989 numerous companies since 1986

SHARIF BENYAMIN (58) LIDYA TJIO (56) Director –Business & Property Director –Finance Development Appointed Director in June 2018. Appointed Director in June Previously served as Assistant 2013. Joined the Company as Director (Finance). Joined in the Executive Director (operations Company in 1995 as Finance & director) for Serpong in 2005. Accounting Manager. Worked in In 2009 assigned to manage Sidharta & Sidharta 1985‐1993, new development projects. PT Pakuwon Subentra Anggraeni 1994‐1995 as Financial Controller.

8 Principal Activities

 Development of residential townships integrated with: Residential . Commercial strips and large retail mall complexes . Recreational, public and social facilities such as schools, hospitals, places of worship, parks . General services and infrastructure such as security arrangements, electricity, water, sewerage, roads  Town planning and management of land development in each locality for the most efficient use of land Commercial Retail  Development area totaling ~ 2,000 hectares with . > 53,000 residences (house and apartment) . > 4,000 retail neighbourhood shoplots, . Retail mall complexes totaling over 300,000 sqm of GFA, . Recreational facilities  3 Principal Business Segments . Property Development (for sales revenues), Leisure . Investment Property (for recurring revenues), and . Leisure & Hospitality (supplemental facilities with recurring revenues)

Landbank, Planned Acquisitions

Gross Area Planned Acquisitions Location Business Structure % Ownership 31‐Dec‐18 2019 2020

1. Summarecon Kelapa Gading Own 100% 8 ha 2. Summarecon Serpong 482 ha 15 ha 12 ha Own land Own 100% 302 ha Land under PT JBC Joint Operations 70% 138 ha Land under PT TGS (The Springs) Joint Operations 55% 42 ha

3. Summarecon Bekasi 394 ha 15 ha 12 ha Own land Own 100% 114 ha Land under PT DSA Joint Venture 51% 280 ha

4. Summarecon Bandung Own 100% 331 ha 15 ha 14 ha 5. Summarecon Bali Own 100% 20 ha 6. Summarecon Bogor Joint Venture 51% 422 ha 20 ha 15 ha 7. Summarecon Makassar 333 ha 15 ha 12 ha Own land Own 100% 137 ha Land under PT SMC Joint Venture 51% 196 ha 8. Summarecon Karawang Own 100% 15 ha 9. Others [+ Potential New Locations] 213 ha 0 ha 0 ha TOTAL HECTARAGE 2,218 ha 80 ha 65 ha

Planned Acquisition Costs (routine) Rp 350 Bn Rp 300 Bn Planned Acquisition Costs (new major) Rp 0 Bn Rp 0 Bn TOTAL LAND ACQUISITION COSTS Rp 350 Bn Rp 300 Bn

**Landbank includes undeveloped land, land for infrastructure and land for future investment properties 10 Project Locations [Current and Future Developments]

Curent Development 1 KELAPA GADING (GREATER JAKARTA) 2 SERPONG (GREATER JAKARTA) 3BEKASI (GREATER JAKARTA) 4 BANDUNG (160 KM FROM JAKARTA) 5 KARAWANG (85 KM FROM JAKARTA) 6 MAKASSAR (4 KM FROM HASANUDDIN AIRPORT) Future Development 7 BOGOR (GREATER JAKARTA, 55 KM SOUTH OF JAKARTA)

JAVA ISLAND SULAWESI ISLAND

1 2 3 5 6

SUMMARECON KELAPA GADING

 Started in 1976  Acreage = Original 500 ha. Now 550 ha  Area already developed =542 ha (97%)  Available landbank to develop = 8ha  Development period for available land bank ~ 10 years  Already developed/constructing : . > 30,000 residential houses . > 2,100 shoplots . > 2,850 apartment units  Investment Properties : . Mall Kelapa Gading . Harris Hotel Kelapa Gading . Pop! Hotel Kelapa Gading . Klub Kelapa Gading . Summerville Apartments Kensingto . Plaza Summarecon (Head Office) n . Menara Satu (Office)

12 SUMMARECON SERPONG

 Started in 1993  Acreage = 800 ha  Area already developed = 315 ha (39%)  Available landbank to develop = 485 ha  Development period for available land bank ~ 10 years  Already developed/constructing : . > 11,500 residential houses . > 2,000 shoplots . > 1,800 residential landplots . > 5,000 apartment units  Investment Properties : . Summarecon Mal Serpong . Summarecon Digital Centre . Scientia Square Park . Scientia Business Park . St. Carolus Hospital [CSR Facility]

Summarecon Serpong : Scientia Garden & The Springs

Scientia Garden 2014 Edison  150 ha residential & commercial development 2010 Pascal 2008 Newton  Available 80 ha for future development 2010 Darwin 2011 Scientia

2012 Aristoteles 2009 Dalton 2013 Volta

2013 Maxwell

2014 Faraday

Universitas 10 Ha Investment Scientia Business Multimedia Properties Park Nusantara

The Springs . 100 ha residential development . Available 42 ha for future development

14 Summarecon Serpong : Symphonia

Symphonia  200 ha residential & commercial development  Available 179 ha for future development

15 15

SUMMARECON BEKASI

 Development started in March 2010.  Available landbank = 400 ha  Development Period for available land bank > 10 years st  Already developed/constructing (1 phase 260 ha) : SpringLake . > 1,800 residential houses Residences . > 450 shoplots . > 4,500 apartment units  Sold 22% of Projected Total

 Investment Properties : . Summarecon Mal Bekasi . Plaza Summarecon Bekasi (Bekasi Office)

16 Summarecon Bekasi : Srimaya Residence

Master plan Srimaya Residence  Srimaya Residence . 15 ha residential development . Opened in August 2018

SUMMARECON BANDUNG

 Development started in November 2015  Current available landbank = 329 ha  Development period for available land bank ~ 10 years  Already Developed / constructing 40 ha:  870 residetial houses  270 Shoplots  Planned Property Developments :  2,700 residential houses  15,000 apartments  1,500 shoplots  5,000 commercial lots  Planned Investment Properties :  Summarecon Mall Bandung: GFA 360,000 m2, NLA 160,000 m2  Harris Hotel Bandung: Total 550 rooms

18 SUMMARECON EMERALD KARAWANG

 Development started in June 2016  Located at East Karawang (85 km from Jakarta CBD)  Current available landbank = 35 ha  Planned Property Developments :  1,300 residential houses  200 shoplots  Developing 6.5 ha land with Toyota Housing Indonesia

SUMMARECON MUTIARA MAKASSAR

 Total acreage : 329 ha  Development started in November 2018.  Summarecon Makassar is strategically located near Sultan Hassanudin Airport (4 km) and Makassar New Seaport (5 km)

20 Projected GDV of Projects [1]

Estimated Development Values Launch 1st Launch Complete Project Total Project Total Sold Project Balance % Cluster Name Product Type Year Date Date Units Sale Value (Rp Bn) Units Sale Value (Rp Bn) Units Sale Value (Rp Bn) Sold Kelapa Gading Kensington Apartments [Tower A‐C] Residential 2014 Sep/14 Sep/18 453 1,440 (340) (1,081) 113 359 75% Kensington Apartments [Tower D] Residential 2015 Apr/15 Apr/19 199 450 (126) (270) 73 180 60% Kensington Office Office 2017 Jun/17 Jun/20 87 312 (32) (98) 55 214 31% Summit Apartment 2 Residential 2020 Feb/20 Feb/23 360 1,260 ‐ ‐ 360 1,260 0% Sub Total ‐ Kelapa Gading 1,099 3,462 (498) (1,449) 601 2,013 42% Serpong Scientia Garden Faraday Commercial Commercial 2019 Jul/19 Jul/21 91 268 ‐ ‐ 91 268 0% Alloggio Residence Residential 2015 Jun/15 Jun/17 324 529 (266) (438) 58 90 83% Alloggio Residence [Ext.] Residential 2017 Jul/17 Jul/19 102 148 (45) (70) 57 78 48% Edison Shoplots Commercial 2017 Apr/17 Apr/19 61 193 (43) (141) 18 52 73% Maxwell 2019 Residential 2019 Mar/19 Mar/21 44 150 ‐ ‐ 44 150 0% Volta Comm Commercial 2019 Jul/19 Jul/21 69 226 ‐ ‐ 69 226 0% Allogio 2019 Residential 2019 Jan/19 Jan/21 45 73 ‐ ‐ 45 73 0% Dalton Ext Commercial 2019 Sep/19 Sep/21 19 78 ‐ ‐ 19 78 0% Houses ‐ 5 Clusters [TBA] Residential 1,863 7,097 ‐ ‐ 1,863 7,097 0% Apartment ‐ 10 Towers [TBA] Residential 2,600 1,932 ‐ ‐ 2,600 1,932 0% Apartment Shoplots ‐ 10 Towers [TBA] Commercial 120 628 ‐ ‐ 120 628 0% Commercial Shoplots ‐ 4 Blocks [TBA] Commercial 137 622 ‐ ‐ 137 622 0% Commercial Land ‐ 5 Blocks [TBA] Commercial 39 928 (16) (472) 23 456 51% Sub Total ‐ Scientia Garden 5,514 12,873 (370) (1,122) 5,144 11,751 9% Symphonia Verdi Residential 2017 Oct/17 Oct/19 243 320 (243) (320) 0 0 100% Vivaldi Residential 2017 Oct/17 Oct/19 192 470 (189) (462) 3 8 98% Rossini Residential 2017 Oct/17 Oct/19 329 540 (273) (464) 56 76 86% Mozzart Residential 2018 Nov/18 Nov/20 84 320 (77) (310) 7 10 97% Verdi [Phase 2] Residential 2019 Mar/19 Mar/21 91 120 ‐ ‐ 91 120 0% Vivaldi [Phase 2] Residential 2019 Mar/19 Mar/21 11 30 ‐ ‐ 11 30 0% Rossini [Phase 2] Residential 2019 Mar/19 Mar/21 41 60 ‐ ‐ 41 60 0% Mozzart B Residential 2019 Jul/19 Jan/00 150 410 ‐ ‐ 150 410 0% Sym Comm Commercial 2019 Nov/19 Jan/00 148 350 ‐ ‐ 148 350 0% Symphonia Residence [TBA] Residential 1,740 3,680 ‐ ‐ 1,740 3,680 0% Symphonia Shoplots [TBA] Commercial 240 360 ‐ ‐ 240 360 0% Sub Total ‐ Symphonia 3,269 6,660 (782) (1,556) 2,487 5,104 23%

Projected GDV of Projects [2]

Estimated Development Values Launch 1st Launch Complete Project Total Project Total Sold Project Balance % Cluster Name Product Type Year Date Date Units Sale Value (Rp Bn) Units Sale Value (Rp Bn) Units Sale Value (Rp Bn) Sold The Springs R8 Goldfinch [Ext] Residential 2015 Mar/15 Mar/17 20 116 (18) (91) 2 25 78% R3A Flamingo [2] Residential 2017 Aug/17 Aug/19 285 820 (37) (86) 248 733 11% R12 Rainbow Springs 5 blocks (B8,G6,O1,O2,O7) Residential 2016 Sep/16 Mar/19 100 152 (100) (152) 0 0 100% R12 Rainbow Springs 5 blocks Residential 2017 May/17 Nov/19 100 155 (100) (155) 0 0 100% R12 Rainbow Springs 13 blocks Residential 2019 May/19 Nov/21 260 390 ‐ ‐ 260 390 0% South Goldfich Comm Commercial 2019 Nov/19 May/22 74 205 ‐ ‐ 74 205 0% South Goldfinch Shoplots Commercial 2017 Jul/17 Jan/20 60 150 (60) (150) 0 0 100% R3A Flamingo [3] Residential 2019 Jul/19 Jan/22 253 672 ‐ ‐ 253 672 0% Residential ‐ 5 clusters [TBA] Residential 720 4035 ‐ ‐ 720 4,035 0% Commercial ‐ 3 Blocks [TBA] Commercial 336 1706 ‐ ‐ 336 1,706 0% Sub Total ‐ The Springs 2,208 8,401 (315) (635) 1,893 7,767 8% Serpong M‐Town Midtown Residence [Tower C,D] Residential 2015 May/15 May/19 1118 742 (974) (671) 144 71 90% Midtown Signature [Tower I] Residential 2019 Nov/19 Nov/23 139 436 ‐ ‐ 139 436 0% Midtown Signature [Tower J] Residential 2015 May/15 May/19 279 362 (262) (347) 17 15 96% Midtown Office Commercial 2017 Feb/17 Aug/19 125 568 (12) (32) 113 536 6% Sub Total ‐ Serpong M‐Town 1,661 2,109 (1,248) (1,050) 413 1,058 50% Bekasi The Orchard ‐ Burgundy Residential 2017 May/17 May/19 137 215 (137) (215) 0 0 100% The Orchard ‐ Burgundy Phase II Residential 2017 Sep/17 Sep/19 140 210 (122) (183) 18 27 87% The Orchard ‐ Burgundy Phase III Residential 2018 Mar/18 Mar/20 90 135 (86) (119) 4 16 88% SpringLake Apartments (Tower D) Residential 2014 Jul/14 Jul/18 778 512 (754) (468) 24 45 91% SpringLake Apartments Shoplots Commercial 2016 Aug/16 Aug/18 72 50 (69) (45) 3 5 89% SpringLake View Apartments (Tower E) Residential 2015 Aug/15 Aug/19 856 428 (654) (288) 202 140 67% SpringLake View Apartments (Tower F) Residential 2016 Oct/16 Oct/20 743 382 (484) (232) 259 150 61% SpringLake View Apartments (Tower G‐H) Residential 2019 Mar/19 Mar/23 1,998 952 ‐ ‐ 1,998 952 0% Primrose Condovillas 3 blocks (GA,GB,GC) Residential 2015 Oct/15 Apr/18 96 134 (47) (70) 49 64 52% Primrose Condovillas 2 blocks (GD‐GE) Residential 2017 Mar/17 Sep/19 58 89 (34) (56) 24 33 63% Primrose Condovillas 11 blocks (GF‐GP) Residential 2019 Nov/19 May/22 418 705 ‐ ‐ 418 705 0% Srimaya Residence Residential 2018 Aug/18 Aug/20 557 224 (476) (191) 81 33 85% Olive Residence Residential 2018 Dec/18 Dec/20 305 366 (70) (85) 235 281 23% Sumitomo Residential 2019 Apr/19 Apr/21 165 548 ‐ ‐ 165 548 0% Apartments ‐ 100 Towers [TBA] Residential 26,670 41,226 ‐ ‐ 26,670 41,226 0% Commercial [TBA] Commercial 158 1,766 ‐ ‐ 158 1,766 0% Sub Total ‐ Bekasi 33,241 47,942 (2,933) (1,951) 30,308 45,991 4%

22 Projected GDV of Projects [3]

Estimated Development Values Launch 1st Launch Complete Project Total Project Total Sold Project Balance % Cluster Name Product Type Year Date Date Units Sale Value (Rp Bn) Units Sale Value (Rp Bn) Units Sale Value (Rp Bn) Sold Bandung Cynthia Phase I Residential 2016 Nov/16 May/19 61 123 (61) (123) 0 0 100% Cynthia Phase II Residential 2017 Jul/17 Jan/20 211 365 (211) (365) 0 0 100% Ruby Commercial Commercial 2017 Nov/17 May/20 72 202 (72) (202) 0 0 100% Topaz Commercial Commercial 2017 Nov/17 May/20 34 87 (28) (77) 61089% Magna Commercial Commercial 2017 Apr/17 Oct/19 131 265 (131) (265) 0 0 100% Chelsea Residential 2018 May/18 Nov/20 90 96 ‐ ‐ 90 96 0% Ruko Bulevar Selatan (Al‐Azhar) Commercial 2019 Sep/19 Mar/22 40 76 ‐ ‐ 40 76 0% Magna Towers Tahap 1 Commercial 2019 Sep/19 Sep/23 1 41 ‐ ‐ 1410% Dayana Residential 2018 Aug/18 Feb/21 344 320 (188) (180) 156 140 56% Magna Commercial Tahap 2 Commercial 2018 Oct/18 Apr/21 84 208 ‐ ‐ 84 208 0% Btari Commercial Tahap 2 Commercial 2018 Nov/18 May/21 35 95 ‐ ‐ 35 95 0% Office Park Commercial 2018 Jun/18 Dec/20 200 200 ‐ ‐ 200 200 0% Cluster E Residential 2019 Jan/19 Jul/21 200 285 ‐ ‐ 200 285 0% Cluster F Residential 2019 Sep/19 Mar/22 237 451 ‐ ‐ 237 451 0% Houses 8 clusters (TBA) Residential 1,618 4,850 ‐ ‐ 1,618 4,850 0% Apartments 65 towers (TBA) Residential 28,446 41,861 ‐ ‐ 28,446 41,861 0% Commercial (TBA) Commercial 1,002 4,509 ‐ ‐ 1,002 4,509 Sub Total ‐ Bandung 31,804 49,523 (691) (1,212) 31,113 48,311 2% Karawang Cluster Elora (New Phase) Residential 2017 Feb/17 Feb/19 157 164 (62) (63) 95 101 39% Kalista Residential 2017 Dec/17 Dec/19 343 189 (343) (189) 0 0 100% Sapphire Commercial Commercial 2017 Jul/17 Jul/19 83 155 (74) (144) 91193% Sevanty Residential 2018 Nov/18 Nov/20 334 165 (83) (43) 251 122 26% Block D Commercial 53 109 ‐ ‐ 53 109 0% Houses 3 Clusters [TBA] Residential 750 890 ‐ ‐ 750 890 0% Shoplots 2 Clusters [TBA] Commercial 200 490 ‐ ‐ 200 490 0% Sub Total ‐ Karawang 1,920 2,161 (562) (439) 1,358 1,722 20% Makasar Beryl Residential 2018 Dec/18 Dec/20 177 187 (123) (127) 54 60 68% Jade Residential 2018 Dec/18 Dec/20 93 197 (57) (110) 36 87 56% Cluster C Residential 2019 Jul/19 Jul/21 292 235 ‐ ‐ 292 235 0% W1 Commercial 2019 Dec/19 Dec/21 20 58 ‐ ‐ 20 58 0% Block C Commercial 2019 Dec/19 Dec/21 2 34 ‐ ‐ 2340% Sub Total ‐ Makasar 584 710 (180) (237) 404 473 33% Grand Total 81,300 133,842 (7,579) (9,652) 73,721 124,190 7%

INVESTMENT PROPERTIES [Pg 1]

PROPERTIES IN SUMMARECON KELAPA GADING [SKLG] Plaza Summarecon  SENTRA KELAPA GADING . Summarecon Mall Kelapa Gading . Harris Hotel Kelapa Gading . Pop! Hotel Kelapa Gading  OTHER PROPERTIES . Plaza Summarecon [Head office]

− Corporate Head Office. Own use Menara Satu − 8 floors. GFA 8,350 m2, NLA 6,870 m2. . Menara Satu [office] − GFA 18,600 m2 office − 8,300 m2 (45%) for strata‐title sale and 10,300m2 (55%) for lease . Summerville Apartments [serviced residential] − Semi‐serviced apartments in a resort setting. − 42 units of 1 to 3‐bedrooms, 95% occupancy Klub Kelapa Gading . Klub Kelapa Gading [recreational club] − Biggest community club in Jakarta with facilities for sports functions and banqueting (from seminars to weddings) − ~1,200 members

24 INVESTMENT PROPERTIES [Pg 2]

PROPERTIES IN SUMMARECON SERPONG [SSPG] Plaza Summarecon Serpong The Springs Club  SENTRA GADING SERPONG − Summarecon Mall Serpong − Salsa Food City − Sinpasa Commercial  OTHER PROPERTIES . Plaza Summarecon Serpong [SSP office] − Serpong Corporate Office . St Carolus Hospital Serpong [CSR Facility] − 8 floors. GFA 8,614 m2, NLA 6,900 m2 − 70‐bed Women and Child Hospital that provides affordable medical care to the community . The Springs Club . Summarecon Digital Centre − Recreational and sports community club − Digital commerce center that provides all IT needs − Banqueting (from seminars to weddings) GFA 23,000 m2, NLA 13,000 m2 . Gading Raya Golf Course & Club − . Scientia Square Park [recreational facilities] − 75 ha 18 hole Golf Course designed by Australia’s Graham Marsh − Open, green park equipped with modern facilities 2 2 − Membership : ~800 − GFA 23,000 m , NLA 13,000 m . Gading Raya Sports Club . Scientia Business Park [office] − Recreational community club − Eco‐friendly business district oriented to green lifestyle − Membership : ~200 (+ ~800 from Golf Club) − 7.2 ha consisting of 20% low rise building area & 80% parks & green spaces area

INVESTMENT PROPERTIES [Pg 3]

PROPERTIES IN SUMMARECON BEKASI [SBKS]  SENTRA SUMMARECON BEKASI . Summarecon Mall Bekasi . Pasar Modern Sinpasa . Bekasi Food City . La Terrazza Culinary Park

 OTHER PROPERTIES . Plaza Summarecon Bekasi . Harris Hotel Bekasi

Bekasi Food City

Pasar Modern Sinpasa

26 Summarecon Mall Kelapa Gading

Description Mal Kelapa Gading Summarecon Mall Kelapa Gading Major GFA 150,000 m2 Tenants : Sogo, Farmers Market, Star Dept Store, Best Denki, Pull & Bear, NLA 112,000 m2 Levi’s, LaSenza, Giordano, Guess, Marks & Spencer, Mothercare, Occupancy 95% Nautica, Nike, Adidas, Puma, Zara, Uniqlo, Gading XXI, TimeZone, Tenants 600 and >600 outlets with a diverse range of cuisine from fast food to restaurants, local franchises to foreign brands like Starbucks, Average Rent Rp 277,000 /m2/mth Breadtalk, etc. Average Service Charge Rp 135,000 /m2/mth Visitor Traffic 32 mn pax & 5.7 mn cars Mal Kelapa Gading Tenancy Mix (by leasable area) % Anchor (Department Store, Home 32% Hardware & Supermarket Food & Beverage 21% Fashion & Lifestyle 22% Entertainment 8% Services & Others 18%

Average Lease Term of Tenant > 3 Years 44% 3 Years 12% < 3 Years 44%

Summarecon Mall Serpong

Description Summarecon Mal Serpong

2 Planned GFA 150,000 m Summarecon Mall Serpong Major Tenants : NLA 79,000 m2 Occupancy 92% Farmers Market, Star Dept Store, Centro Dept Store, Uniqlo, Sports Station, Baleno, Giordano, Levi’s, Mothercare, Nike, Tenants 400 Adidas, Studio XXI Cineplex, TimeZone, and > 400 outlets with a Average Rent Rp 184,000 /m2/mth diverse range of cuisine from fast food to restaurants, local Average Service Charge Rp 82,500 /m2/mth franchises to foreign brands like Starbucks, Breadtalk, etc. Visitor Traffic 23.8 mn pax & 4.9 mn cars Summarecon Mal Serpong Tenancy Mix (by leasable area) % Anchor (Department Store, Home 33% Hardware & Supermarket Food & Beverage 18% Fashion & Lifestyle 17% Entertainment 9% Services & Others 21%

Average Lease Term of Tenant > 3 Years 54% 3 Years 7% < 3 Years 39%

28 Summarecon Digital Centre

Description Summarecon Digital Centre Summarecon Digital Centre Major Tenants : GFA 23,000 m2 NLA 13,000 m2 iBox, Samsung by Global Teleshop, Erafone, Lenovo, Oppo, McDonald’s, Solaria, Sop Ikan Batam, Doner Kebab, Learning + Occupancy 73% Lab, Pulse etc. Tenants 150 Average Rent Rp 90,000 /m2/mth Average Service Charge Rp 50,000 /m2/mth

Tenancy Mix (by leasable area) % Summarecon Digital Centre Anchor (Department Store, Home 20% Hardware & Supermarket Food & Beverage 25% Fashion & Lifestyle 14% Entertainment 33% Services & Others 8%

Average Lease Term of Tenant > 3 Years 70% 3 Years 14% < 3 Years 16%

Summarecon Mall Bekasi

Description Summarecon Mal Bekasi Planned GFA 160,000 m2 Summarecon Mal Bekasi Major Tenants : NLA 54,000 m2 Star Dept Store, Sogo’s Foodhall Supermarket, Best Denki, Ace Occupancy 97% Hardware, Uniqlo, Sports Station, Baleno, Giordano, Levi’s, Tenants 300 Mothercare, Nike, Adidas, Studio XXI Cineplex, TimeZone, and > 400 outlets with a diverse range of cuisine from fast food to Average Rent Rp 175,000 /m2/mth restaurants, local franchises to foreign brands like Starbucks, Average Service Charge Rp 77,000 /m2/mth Breadtalk, etc. Visitor Traffic 29 mn pax & 2.8 mn cars

Summarecon Mal Bekasi Tenancy Mix (by leasable area) % Anchor (Department Store, Home 30% Hardware & Supermarket Food & Beverage 18% Fashion & Lifestyle 22% Entertainment 9% Services & Others 21% Average Lease Term of Tenant > 3 Years 48% 3 Years 6% < 3 Years 46%

30 Hospitality Business –City Hotels

 Strategy based on selective development wherein there is a stable & recurring captive market.

Room Hotel Catchment Published Rate Occupancy Number HARRIS HOTEL Kelapa Gading, Sunter, 307 Rp 1,200,000/night 75% KELAPA GADING and Pulo Gadung Kelapa Gading, Sunter, POP! HOTEL 266 and Pulo Gadung Rp 450,000/night 75% KELAPA GADING

Bekasi and industrial HARRIS HOTEL 332 estates, Cikarang, and Rp 800,000/night 70% BEKASI Karawang

Hospitality Business –Resort Hotel

 MӦVENPICK RESORT & SPA, JIMBARAN, BALI  SAMASTA LIFESTYLE VILLAGE . 300 rooms 5‐star resort hotel . NLA 5,000 sqm for F&B and entertainment . Tourists; both foreign and domestic . Popular Tenant: Gaya Gelato, Chir Chir, . Opened on 12th January 2017 Wahaha . Dev Cost = Rp 600 bn  CONDOTEL [future development] . Room rates Rp1.8mn/ night . GFA 10,000 sqm strata‐title saleable

Samasta Lifestyle Village

Mövenpick Resort & Spa

32 Corporate Structure

 PT SUMMARECON AGUNG Tbk Develops Summarecon Kelapa Gading (SKG) & Summarecon Bekasi (SBK)  Manages Sentra Kelapa Gading properties and all other properties in SKG 99% PT Serpong Cipta Kreasi  Develops Summarecon Serpong (SSP)

Joint Operations with PT Jakartabaru Cosmopolitan to develop Scientia Garden. 70% profit sharing. Joint Operations with PT Telaga Gading Serpong to develop The Springs. 100% 55% profit sharing. PT Summarecon Property Development  Develops Summarecon Karawang (SKW)

100% PT Mahkota Permata Perdana o Develops Summarecon Bandung (SBD) 100% PT Lestari Mahadibya  Manages Summarecon Mal Serpong

100% PT Makmur Orient Jaya . Manages Summarecon Mal Bekasi

The above are the main & active operating companies 33

Income Statement : Consolidated Results

CONSOL VARIANCE (FY 2017 vs FY 2016) VARIANCE [2018Q3 vs 2017Q3] INCOME STATEMENTS FY 2015 FY 2016 FY 2017FY 2017 vs FY 2016 2017Q3 2018Q3 2018Q3 vs 2017Q3 Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn

REVENUE 5,624 5,396 5,641 244 5% 3,994 4,023 29 1% COS / DIRECT COST (2,556) (2,618) (2,925) (307) 12% (2,110) (1,949) 161 ‐8% GROSS PROFIT 3,068 2,779 2,716 (63) ‐2% 1,884 2,074 190 10%

OVERHEADS (1,028) (1,101) (1,152) (51) 5% (817) (798) 18 ‐2% ‐ Selling Expense (258) (349) (337) 12 ‐3% (228) (220) 7 ‐3% ‐ Administrative Expense (794) (753) (818) (64) 9% (592) (583) 9 ‐2% ‐ Other Expense/Income 24 1 2 1 126% 3 5 2 61% EBITDA 2,039 1,678 1,564 (114) ‐7% 1,067 1,275 208 19% Less : Depreciation (248) (268) (223) 45 ‐17% (229) (229) 0 0% EBIT 1,791 1,410 1,341 (69) ‐5% 838 1,047 208 25% Add : Net Finance Income/(Expense) (409) (532) (542) (9) 2% (405) (467) (63) 15% Add : Non‐Operating Income/(Expense) ‐ ‐ ‐ ‐ 0% 0 ‐ (0) 0% Less : Taxation (318) (272) (267) 6 ‐2% (194) (187) 7 ‐3% PROFIT FOR THE YEAR (PAT) 1,064 605 532 (73) ‐12% 240 392 152 63%

PROFIT ATTRIBUTABLE TO : COMPANY OWNERS 855 312 362 50 16% 121 203 83 68% NON‐CONTROLLING INTERESTS 209 293 170 ‐123 ‐42% 119 189 70 58% PROFIT FOR THE YEAR 1,064 605 532 ‐73 ‐12% 240 392 152 63%

Gross Profit Margin 55% 51% 48% ‐3% 47% 48% 1% Overheads Ratio 18% 20% 20% 0% 20% 20% 0% EBITDA Margin 36% 31% 28% ‐3% 27% 28% 1% EBIT Margin 32% 26% 24% ‐2% 21% 24% 3% PAT Margin 19% 11% 9% ‐2% 6% 9% 3% YoY% Growth ‐ Revenues ‐2% ‐4% 5% 11% 5% YoY% Growth ‐ EBITDA ‐19% ‐18% ‐7% 3% ‐7% YoY% Growth ‐ EBIT ‐15% ‐21% ‐5% 0% ‐5% YoY% Growth ‐ Profit For The Year ‐34% ‐43% ‐12% ‐4% ‐12% 34 Segment : Revenues & EBIT

-YoY 2% YoY 4% -YoY 34% -YoY 4%

-YoY 43% -YoY 13%

Income Statement : Property Development [Sales of residential & commercial properties] PDV VARIANCE (FY 2017 vs FY 2016) VARIANCE [2018Q3 vs 2017Q3] INCOME STATEMENTS FY 2015 FY 2016 FY 2017FY 2017 vs FY 2016 2017Q3 2018Q3 2018Q3 vs 2017Q3 Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn

REVENUE 3,977 3,561 3,603 42 1% 2,532 2,422 (110) ‐4% COS / DIRECT COST (1,753) (1,787) (1,916) (129) 7% (1,430) (1,222) 207 ‐14% GROSS PROFIT 2,224 1,774 1,687 (86) ‐5% 1,102 1,199 97 9%

OVERHEADS (646) (688) (742) (54) 8% (582) (464) 118 ‐20% ‐ Selling Expense (147) (228) (239) (11) 5% (176) (146) 30 ‐17% ‐ Administrative Expense (522) (459) (505) (46) 10% (409) (320) 89 ‐22% ‐ Other Expense/Income 24 (0) 2 2 ‐422% 3 2 (1) ‐25% EBITDA 1,578 1,086 945 (140) ‐13% 520 736 216 41% Less : Depreciation (45) (40) (37) 3 ‐7% (30) (28) 2 ‐8% EBIT 1,533 1,046 909 (137) ‐13% 490 708 218 44% Add : Net Finance Income/(Expense) (243) (354) (360) (6) 2% (264) (360) (96) 37% Add : Non‐Operating Income/(Expense) ‐ ‐ ‐ ‐ 0% 0 ‐ (0) ‐100% Less : Taxation (214) (155) (147) 8 ‐5% (107) (91) 16 ‐15% PROFIT FOR THE YEAR (PAT) 1,076 537 402 (135) ‐25% 119 257 138 115%

Gross Profit Margin 56% 50% 47% ‐3% 44% 50% 6% Overheads Ratio 16% 19% 21% 1% 23% 19% ‐4% EBITDA Margin 40% 30% 26% ‐4% 21% 30% 10% EBIT Margin 39% 29% 25% ‐4% 19% 29% 10% PAT Margin 27% 15% 11% ‐4% 5% 11% 6% YoY% Growth ‐ Revenues ‐5% ‐10% 1% 10% ‐33% YoY% Growth ‐ EBITDA ‐26% ‐31% ‐13% ‐9% ‐22% YoY% Growth ‐ EBIT ‐19% ‐32% ‐13% ‐11% ‐22% YoY% Growth ‐ Profit For The Year ‐34% ‐50% ‐25% ‐32% ‐36%

36 Income Statement : Property Development [Sales of residential & commercial properties]

INCOME STATEMENTS for Property PDV VARIANCE (FY 2017 vs FY 2016) VARIANCE [2018Q3 vs 2017Q3] Development by Product Type FY 2015 FY 2016 FY 2017FY 2017 vs FY 2016 2017Q3 2018Q3 2018Q3 vs 2017Q3 1,000,000 Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn

REVENUE 3,977 3,561 3,603 42 1% 2,532 2,422 (110) ‐4% House 1,353 1,559 813 (746) ‐48% 751 1,317 566 75% Shop 954 89 234 145 163% 137 50 (87) ‐64% Landplot 37 318 607 289 91% 142 118 (25) ‐17% Apartment 1,633 1,595 1,949 354 22% 1,502 938 (564) ‐38% Office ‐ ‐ ‐ ‐ 0% ‐ ‐ ‐ 0%

GROSS PROFIT MARGINS 56% 50% 47% ‐3% 43% 47% 3% House 56% 53% 48% ‐5% 46% 59% 13% Shop 72% 73% 62% ‐11% 0% 49% 49% Landplot 97% 88% 76% ‐12% 80% 74% ‐7% Apartment 46% 37% 35% ‐2% 37% 32% ‐5% Office 0% 0% 0% 0% 0% 0% 0%

Income Statement : Investment Property [Retail Mall, Office, Residential & Commercial properties]

IVP VARIANCE (FY 2017 vs FY 2016) VARIANCE [2018Q3 vs 2017Q3] INCOME STATEMENTS FY 2015 FY 2016 FY 2017FY 2017 vs FY 2016 2017Q3 2018Q3 2018Q3 vs 2017Q3 Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn

REVENUE 1,242 1,347 1,400 54 4% 1,002 1,062 60 6% COS / DIRECT COST (546) (546) (552) (6) 1% (390) (384) 6 ‐2% GROSS PROFIT 695 801 848 47 6% 612 678 66 11%

OVERHEADS (255) (245) (259) (14) 6% (97) (214) (117) 120% ‐ Selling Expense (100) (108) (76) 33 ‐30% (31) (61) (30) 96% ‐ Administrative Expense (154) (137) (184) (47) 34% (66) (154) (88) 134% ‐ Other Expense/Income 0 1 1 0 33% 0 2 1 1544% EBITDA 441 556 589 33 6% 515 465 (50) ‐10% Less : Depreciation (157) (167) (163) 4 ‐2% (155) (157) (1) 1% EBIT 284 389 426 37 9% 360 308 (52) ‐14% Add : Net Finance Income/(Expense) (135) (139) (133) 6 ‐4% (105) (96) 9 9% Add : Non‐Operating Income/(Expense) ‐ ‐ ‐ ‐ 0% ‐ ‐ ‐ 0% Less : Taxation (105) (110) (116) (7) 6% (86) (92) (6) 6% PROFIT FOR THE YEAR (PAT) 44 140 177 36 26% 168 120 (48) ‐28%

Gross Profit Margin 56% 59% 61% 1% 61% 64% 3% Overheads Ratio 21% 18% 18% 0% 10% 20% 10% EBITDA Margin 35% 41% 42% 1% 51% 44% ‐8% EBIT Margin 23% 29% 30% 2% 36% 29% ‐7% PAT Margin 4% 10% 13% 2% 17% 11% ‐5% YoY% Growth ‐ Revenues 11% 8% 4% 5% 6% YoY% Growth ‐ EBITDA 13% 26% 6% 22% ‐10% YoY% Growth ‐ EBIT 19% 37% 9% 21% ‐14% YoY% Growth ‐ Profit For The Year 17% 222% 26% 46% ‐28%

38 Income Statement : Leisure & Hospitality

L & HVARIANCE (FY 2017 vs FY 2016) VARIANCE [2018Q3 vs 2017Q3] INCOME STATEMENTS FY 2015 FY 2016 FY 2017FY 2017 vs FY 2016 2017Q3 2018Q3 2018Q3 vs 2017Q3 Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn

REVENUE 213 244 354 110 45% 256 308 52 20% COS / DIRECT COST (112) (120) (252) (132) 111% (157) (175) (18) 12% GROSS PROFIT 101 125 102 (22) ‐18% 99 132 33 34%

OVERHEADS (65) (99) (81) 17 ‐17% (85) (61) 24 ‐28% ‐ Selling Expense (10) (12) (20) (8) 66% (19) (10) 9 ‐47% ‐ Administrative Expense (55) (87) (62) 25 ‐29% (65) (51) 15 ‐22% ‐ Other Expense/Income 0 0 0 (0) ‐16% 0 0 0 742% EBITDA 36 26 21 (5) ‐20% 15 72 57 391% Less : Depreciation (29) (40) (10) 30 ‐74% (30) (35) (4) 14% EBIT 7 (14) 10 24 ‐174% (16) 37 53 335% Add : Net Finance Income/(Expense) (24) (33) (45) (11) 34% (33) (9) 24 ‐74% Add : Non‐Operating Income/(Expense) ‐ ‐ ‐ ‐ 0% ‐ ‐ ‐ 0% Less : Taxation (2) (4) (0) 4 ‐95% (0) 0 1 ‐397% PROFIT FOR THE YEAR (PAT) (18) (51) (35) 17 ‐33% (49) 29 78 159%

Gross Profit Margin 47% 47% 51% 4% 51% 29% ‐22% Overheads Ratio 30% 30% 40% 10% 40% 23% ‐17% EBITDA Margin 17% 17% 11% ‐6% 11% 6% ‐5% EBIT Margin 3% 3% ‐6% ‐9% ‐6% 3% 9% PAT Margin ‐9% ‐9% ‐21% ‐12% ‐21% ‐10% 11% YoY% Growth ‐ Revenues 49% 49% 14% 14% 45% YoY% Growth ‐ EBITDA 62% 62% ‐28% ‐28% ‐20% YoY% Growth ‐ EBIT ‐1325% ‐1325% ‐290% ‐290% ‐174% YoY% Growth ‐ Profit For The Year 130% 130% 179% 179% ‐33% 39

Income Statement : Others

OTH VARIANCE (FY 2017 vs FY 2016) VARIANCE [2018Q3 vs 2017Q3] INCOME STATEMENTS FY 2015 FY 2016 FY 2017FY 2017 vs FY 2016 2017Q3 2018Q3 2018Q3 vs 2017Q3 Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn

REVENUE 191 245 283 38 16% 204 232 27 13% COS / DIRECT COST (144) (165) (205) (40) 24% (134) (168) (34) 26% GROSS PROFIT 47 80 78 (2) ‐2% 71 64 (7) ‐10%

OVERHEADS (63) (70) (70) 0 0% (53) (60) (7) 14% ‐ Selling Expense (0) (1) (3) (2) 217% (1) (3) (2) 127% ‐ Administrative Expense (62) (70) (67) 3 ‐4% (52) (58) (7) 13% ‐ Other Expense/Income (0) 0 (1) (1) ‐314% 0 1 1 1709% EBITDA (16) 10 8 (2) ‐17% 18 3 (15) 81% Less : Depreciation (18) (21) (12) 9 ‐41% (13) (10) 4 ‐27% EBIT (33) (11) (4) 7 ‐61% 4 (7) (11) 247% Add : Net Finance Income/(Expense) (6) (6) (4) 2 ‐38% (3) (3) 0 ‐12% Add : Non‐Operating Income/(Expense) ‐ ‐ ‐ ‐ 0% ‐ ‐ ‐ 0% Less : Taxation 3 (4) (3) 0 ‐7% (0) (5) (5) 1854% PROFIT FOR THE YEAR (PAT) (37) (21) (12) 10 ‐45% 1 (14) (15) 1371%

Gross Profit Margin 25% 33% 28% ‐5% 35% 27% ‐7% Overheads Ratio 33% 29% 25% ‐4% 26% 26% 0% EBITDA Margin ‐8% 4% 3% ‐1% 9% 1% ‐7% EBIT Margin ‐17% ‐5% ‐2% 3% 2% ‐3% ‐5% PAT Margin ‐19% ‐9% ‐4% 5% 1% ‐6% ‐7% YoY% Growth ‐ Revenues ‐34% 28% 16% 16% 13% YoY% Growth ‐ EBITDA 21% ‐161% ‐17% 2463% ‐81% YoY% Growth ‐ EBIT 13% ‐66% ‐61% ‐127% ‐247% YoY% Growth ‐ Profit For The Year 6% ‐43% ‐45% ‐105% ‐1371%

40 Key Financial Indicators

CONSOL @VARIANCE (FY 2017 vs FY 2016) VARIANCE [2018Q3 vs 2017Q3] BALANCE SHEET / RATIOS FY 2015 FY 2016 FY 2017FY 2017 vs FY 2016 2017Q3 2018Q3 2018Q3 vs 2017Q3 Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn Rp'Bn

TOTAL ASSETS 18,758 20,810 21,663 852 4% 20,987 22,908 1,921 9% TOTAL LIABILITIES 11,229 12,645 13,309 664 5% 12,730 14,211 1,481 12% SHARE CAPITAL 1,443 1,443 1,443 0 0% 1,443 1,443 (0) 0% TOTAL EQUITY 7,530 8,166 8,354 188 2% 8,257 8,697 440 5% NON‐CONTROLLING INTERESTS 1,517 1,923 1,844 (79) ‐4% 1,974 2,044 70 4% ‐ ‐ ‐ ‐ TOTAL DEBT BORROWINGS 6,188 7,427 7,984 557 8% 7,515 8,795 1,280 17% Less : CASH & Equivalents (1,504) (2,076) (1,482) 594 ‐29% (1,676) (1,537) 139 ‐8% NET DEBT 4,685 5,350 6,501 1,151 22% 5,839 7,258 1,420 24%

TOTAL DEBT TO EQUITY 82% 91% 96% 5% 91% 101% 10% NET DEBT TO EQUITY 62% 66% 78% 12% 71% 83% 13% INTEREST COVER [X times] 4.4 X2.6 X2.5 X ‐0.2 X2.1 X2.2 X0.2 X RETURN ON EQUITY (Annualised) 14.1% 7.4% 6.4% ‐1.0% 3.9% 6.0% 2.1% RETURN ON ASSETS (Annualised) 5.7% 2.9% 2.5% ‐0.4% 1.5% 2.3% 0.8% BOOK VALUE PER SHARERp 417 Rp 433 Rp 451 Rp 19 4%Rp 436 Rp 461 Rp 26 6% SHARE PRICERp 1,650 Rp 1,325 Rp 945 Rp (380) ‐29%Rp 1,065 Rp 655 Rp (410) ‐38% EPS (Annualised)Rp 59 Rp 22 Rp 25 Rp 3 16%Rp 11 Rp 19 Rp 8 70% DIVIDENDS PER SHARERp 5 Rp 5 Rp 5 Rp ‐ 0% Rp 5 Rp ‐ Rp (5) ‐100% DIVIDEND PAYOUT RATIO 0.0% 23.1% 19.9% ‐3.2% 60.4% 0.0% ‐60.4% P/E RATIO (Annualised) 27.8 X 61.3 X 37.7 X ‐23.7 X 96.5 X34.9 X ‐61.6 X PRICE TO BOOK RATIO 4.0 X3.1 X2.1 X ‐1.0 X2.4 X1.4 X ‐1.0 X

Debt Borrowings (as of 31th Dec 2018)

Average TOTAL < 12 Mths > 12 Mths Cost of Debt Rp'Bn Rp'Bn Rp'Bn Bank Borrowings (2013 ‐ 2023) 5,795 2,163 3,631 10.01% Continuous Bond I (1st‐3rd Tranche) 1,100 1,100 0 11.20% Continuous Bond II (1st‐2nd Tranche) 1,300 0 1,300 11.25% Continuous Bond III (1st Tranche) 416 0 416 10.75% TOTAL DEBT BORROWINGS 8,611 3,263 5,347 9.87%

Total Year Remarks (Rp'bn) 2018 2,163 2019 1,803 Including Continuous Bond I 2nd tranche for total Rp 1.1 trillion 2020 2,486 Including Continuous Bond II 1st & 2nd tranche for total Rp 1.3 trillion 2021 1,303 Including Continuous Bond III 1st tranche for total Rp 0.4 trillion 2022 318 2023 538 TOTAL 8,611

Notes : . Bond rated at Id A (Single A ; Stable Outlook) by Pefindo on 7 September 2018 . DER : 96%

42 Non‐land Capital Investments

PERIOD TOTAL FY2019 FY2020 FY2021 Rp'Bn Rp'Bn Rp'Bn Rp'Bn

Hotel @ Summarecon Serpong 2019‐2021 300 90 120 90 Hotel @ Summarecon Bandung 2019‐2021 300 30 90 180 Summarecon Mal Bandung 2019‐2021 600 180 240 180 TOTAL PROJECT CAPEX 1,200 300 450 450

Net Asset Value (based on Management Estimates)

NET BOOK MGMT EST. NET BOOK MGMT EST. ASSET TYPE ACREAGE CURRENT ASP (RANGE) VALUE [NPAT GDV] VALUE [NPAT GDV] Ha Rp'B Rp'B Rp'm/m2 Rp'm/m2 Rp'm/m2 Rp'm/m2

A. LANDBANK 2,218 ha 6,735 56,074 1. Summarecon Kelapa Gading 8 ha 165 2,016 2.06 25.20 60.00 140.00 2. Summarecon Serpong 482 ha 1,556 15,890 0.32 3.30 8.00 32.00 SSP ‐ Own Land 302 ha 1,016 10,641 0.34 3.53 9.00 32.00 SSP ‐ JO with PT JBC 138 ha 414 4,024 0.30 2.92 8.00 32.00 SSP ‐ JO for The Springs 42 ha 126 1,225 0.30 2.92 10.00 32.00 3. Summarecon Bekasi 394 ha 933 12,390 0.24 3.14 9.00 40.00 SBK ‐ Own Land 114 ha 419 6,382 0.37 5.60 9.00 40.00 SBK ‐ JV with PT DSA 280 ha 513 6,009 0.18 2.15 Not developed yet 4. Summarecon Bandung 331 ha 1,605 8,349 0.48 2.52 6.00 15.00 5. Summarecon Bali 20 ha 458 1,645 2.34 8.40 Not developed yet 6. Summarecon Bogor 422 ha 810 7,683 0.19 1.82 Not developed yet 7. Summarecon Makassar 333 ha 737 6,059 0.22 1.82 Not developed yet 8. Summarecon Karawang 15 ha 183 337 1.18 2.18 4.50 12.00 9. Other properties & inventories 213 ha 291 2,041 0.14 0.96 Not developed yet

B. INVESTMENT PROPERTIES 106 ha 4,260 22,312 1. Sentra Kelapa Gading 19 ha 761 8,747 2. Sentra Gading Serpong 17 ha 1,034 4,308 3. Summarecon Mal Bekasi 16 ha 823 3,270 4. Mövenpick Resort & Spa 4 ha 459 1,127 5. Other Properties 50 ha 1,183 4,860

C. TOTAL ASSETS 2,323 ha 10,996 78,386 Less : JO/JV Minority Interests ‐1,275 ‐11,988 D. TOTAL ASSETS (NET OF JO/JV MI) 9,721 66,398 NAV Rp 4,122 Less : Net Debt Gearing @ 31 Dec 2018 ‐7,079 ‐7,079 [ Management Estimate ] E. NET ASSET VALUE 2,643 59,320 F. NAV per share Rp183 Rp4,112 44 Summarecon’s Competitiveness : Our Twin Pillars

PROPERTY DEVELOPMENT INVESTMENT PROPERTY

 Proven successful development of residential  Development, ownership, and operation of townships integrated with commercial, retail malls and commercial areas integrated recreational and infrastructure facilities into the residential townships  Residential product size and mix are  Continued upgrading, expansion, and controlled with easily manageable residential refurbishment of commercial and retail clusters properties to grow attractiveness of the  Product launchings controlled to ensure townships efficient and maximum absorption by the  market Commitment to manage tenant mix and placements to ensure optimum  Blend of residential and commercial retail performance of malls areas with vibrant local economy. Creates virtuous demand cycle  Evolving recreational facilities to provide township residents with in‐demand  Town / residential estate management : lifestyles security, landscaping, community centre, sports facility, environment  Make our malls a destination for both living  Timing of developments to take advantage of and recreational needs with wide variety of strong property demand entertaining events

Summarecon’s Competitiveness

 Recognized product and service quality and trust in the Company’s developments Ease of mortgage financing for  Fulfillment of product and service delivery commitments Company’s products  Good reputation and brand loyalty for the Company’s property products  Strong value appreciation in properties sold by the Company  Sound management of investment properties over the years have built up a solid and secure tenant base  Company and tenants as business partners

 Attainment of critical mass in our townships further attracting residents and commercial tenants alike to the Company’s developments  Creating a virtuous demand for both residential and commercial properties  Attracts a very large volume of visitors to the malls, thus providing business to the tenants  Providing stable recurring income to weather downturns in the property market, and allows property developments to be timed to benefit from market recovery 46 Outlook : The market and how we see it

 Overall demand for properties in the middle  For Summarecon :‐ price segment remains strong with demand  Summarecon Kelapa Gading is a well largely driven by :‐ sought‐ after residential area for the  Increasing the size of the middle income upper middle class, and high net worth group individuals.  First time buyers  Summarecon Serpong is in the growth  Changing household sizes, upgrading to corridor of Serpong which is the fastest bigger units growing area on the fringe of Jakarta. Moreover our market segment is the  Strong savings and income growth growing middle class of professionals  BI 7days repo rate increased to 6.0% as of working in Jakarta. st 21 February 2019  Summarecon Bekasi will be the impetus  Home mortgage rates with wide spread that accelerates modern developments from 6 – 9.5% pa and longer tenors on the eastern fringe of Jakarta, and  Mortgage penetration is still low. Banking uplift the economy, livelihood and living sector can provide a lot more funding to standards of the residents living there. the sector, thereby fueling demand for  Summarecon Bandung, Summarecon properties Emerald Karawang and Summarecon  The successful of tax amnesty program Mutiara Makassar will be the next growth that began in July 2016 is expected to area as it will provide geographic bring a positive impact on the property diversity to our development portfolio. market

Moving Forward  Corporate objective  Assure appropriate returns to our stakeholders; customers, shareholders, government authorities, business associates , and employees  Strengthen market position in property development  Continue to focus on developments within our 5(five) townships in Kelapa Gading, Serpong, Bekasi, Bandung and Karawang and to start development in Makassar  Offer innovative products in developing residential projects  Timely and assured delivery of these quality products to our customers, thereby further enhancing the Summarecon brand and its products  Large landbank allows us the flexibility to market products appropriate to the prevailing market conditions  Strengthen market position in property investment  Expand our portfolio of investment properties within our townships  In the mid‐ to long‐term, to develop new products and businesses  Offer innovative programs to attract visitors to our shopping and life‐style properties, thereby deriving values for our tenants and customers

48 Consistent Value to Shareholders

 Significant potential upside when compared with :‐  NAV (undeveloped landbank) of Rp 4,122 per share  Consistent dividend payouts. Latest payout for FY 2017 = Rp 5,‐ per share.

IDX Growth since 1 Jan 2015 = 123% SMRA Growth = 61% IDX Composite Index Share Price (Rupiah / share) Share

End To contact us ……………………..

Investor Relations

Michael Yong Technical Advisor [email protected]

Jemmy Kusnadi Corporate Secretary / Head of Investor Relations [email protected]

PT Summarecon Agung Tbk Plaza Summarecon, Jl. Perintis Kemerdekaan No. 42 Jakarta 13210, Indonesia Tel : + 62 21 4714567, Fax : +62 21 4892976 [email protected] www.summarecon.com

50 Disclaimer

We caution investors that all statements other than statements of historical fact included in this document, including without limitation, those regarding our financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to our existing and future products), are forward‐looking statements. Such forward‐looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking statements. Such forward‐looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we expect to operate in the future. We expressly disclaim any obligation or undertaking to release publicly any update of or revisions to any forward‐looking statement contained herein to reflect any change in our expectations with regard hereto or any change in events, conditions or circumstances on which any such statement is based. This document has been prepared and provided on a confidential basis and may not be reproduced in whole or in part, nor may its contents be disclosed to any third party, without PT Summarecon Agung Tbk’s prior written consent.

Appendix : Product Specifications

 The Kensington Royal Suites

 Alexandrite Residence

 The Summit

 Kew Residence 52 A Typical Residential Product

Marketing Brochure

Security and Gate to each cluster   Concept :  Gated community with strict security at the gates and regular patrols within the estate  Centrally maintained estate management of landscaping, cleanliness, garbage collection (including recycling), waste water treatment  Monthly fees collected for upkeep of the estate and for the town  Acreage = 4 ha  Houses = 406 units Community Centre / Clubhouse   Unit Land size = 66 –77m2 (Average = 71 m2)  Building GFA = 62 –78m2 (Average = 70 m2)  ASP Unit = Rp 1.1bn – Rp1.4bn (Average = Rp 1.3bn)

54 Marketing Brochure

Land : 66m2 Land : 77m2 Building GFA : 62 –68m2 Building GFA : 73 – 78 m2 Price : ~Rp 1.1 bn each Price : ~Rp 1.4bn each

Marketing Brochure

Land / Building Size : Land / Building Size : Land / Building Size : 66 m2 / 62 m2 66 m2 / 68 m2 77 m2 / 78 m2

Land / Building Size : 77 m2 / 73 m2